· Prices soar, inflation gallops
By Our Correspondents
Residents of the Federal Capital Territory, FCT, Abuja, are apprehensive that a bleak Christmas looms as rising inflation and insecurity shoot prices of goods and services over the roof.
Our correspondents gathered that the usual last-minute shopping for Christmas cloths and food items in markets within the territory and its environs is making a slow start, while sellers of used clothes, popularly called “okrika” along Nyanya and Mararaba markets are making brisk business.https://theabujainquirer.com/2022/11/28/abuja-residents-to-pay-more-for-water-waterboard/
At Nyanya market, just 9 kilometers away from the city centre, since last week, staple food items, such as rice, groundnut oil, chicken, palm oil, onions, beans, gari and others have added prices and become increasingly difficult to purchase.
A similar scenario was observed at the popular Mararaba Market where the price of chicken ranges from N7, 500 to N10,000 depending on size, while bag of local rice costs between N33,000 and N45,000, depending on the quality and the seller.
A Nyanya, a resident of the territory, Ms Chairty Simon, said prices of goods are about doubled as sellers have hiked everything from shoes to handbags.https://theabujainquirer.com/2022/02/28/abuja-residents-share-their-fuel-scarcity-agony/
“The situation of the country is very difficult; things are very expensive in the market; most people can’t afford them; those that are lucky to get anything now should give thanks to God because most people cannot feed three times a day not to talk of Christmas.
“I was in Nyanya market some days ago, the price of everything has increased, almost double the normal price,” Simon said.
Another resident, Mrs Roseline Ajose, who visited Utako market two days ago, noted that prices of things have generally skyrocketed except for tomato that is not very expensive as the price has reduced marginally.
“Before now we were buying tomato for N2,500 per basket; two days ago, that I went to the market, I bought it N1800. Normally, in this season, the price of tomato use to come down. But other items like rice, groundnut oil, magi and onion are expensive,” Ajose said.
Nigeria’s inflation rose to 21.47 per cent in November from 21.09 per cent recorded in October, representing the 10th consecutive monthly increase since the start of the year.
The Consumer Perception Index, CPI, released by the National Bureau of Statistics, NBS, said the inflation rate is attributed to increase in the cost of importation due to the persistent currency depreciation and general increase in the cost of production.
According to the report, food inflation, rose to 24.13 per cent in November 2022 from 23.72 per cent recorded in the previous month.
It noted that the rise in food inflation was caused by increases in prices of bread and cereals, oil and fat, potatoes, yam and other tubers, food products, fish.
